Lendtable Review 2024 → Maxing Out Your 401(k) and ESPP Contributions!

Need more than your monthly salary? The 401(k) is a financial service dedicated to giving employees cash advances to maximize their 401(k). Instead of lending from a bank or credit card, you can benefit from the free money from your retirement matching program.

You can join its subscription to enjoy cash deposited into your primary bank account. Furthermore, the 401(k) is basically divided into a company-sponsored retirement account and a payroll deduction. So no matter which one yours is, this service is still eligible for advance cash.

In addition, the maximum deposit amount will be based on your 401(k), 403(b), or TSP match program. According to its estimation, in a year, you can receive average cash of $4,992/year.

Then, you should pay out the balance when you resign from the company, hit retirement age, or cancel the service. So, instead of paying the credit monthly, it’ll use a 20% profit-share rate and one-time payment.

Thus, if you want additional cash from your 401(K),  get started with only a $10 platform fee.

Next is the ESPP service, a cash advance program that benefitted from the Employee Stock Purchase Plan. The ESPP is a benefit program where the company offers an employee stock at a discounted match price.

Employees usually contribute to this program via payroll deduction. Then you can sell the stock at the market value to earn a profit. Furthermore, this service strives to help you contribute and get profit from it.

Here, you can get the advantage from your stock to get the balance from Lendtable. However, you need to pay the balance when you sell your shares. Therefore, the maximum balance you can borrow depends on the maximum income percentage you contributed to ESPP.

Like the 401k, this ESPP service also charges a $10/month subscription fee and a 35% profit-share rate. If you are interested, you can use the ESPP calculator to estimate the amount you can borrow. Thus, get started right now!

Still can’t understand how their service works? Then, we’ll make it easier to grasp how its service works through simple steps.

How Lendtable works with 401(k) and ESPP

1. Sign up for Lendtable paystub and your company’s 401(k) or ESPP policy to make a login account. Then its team will do the document evaluations and notify the approval or refusal within 48 hours.
2. If approved, you should like your bank information. So, it’ll be used to disburse the payment and charge a $10/month subscription fee. Next, you’ll sign the contract.
3. Make sure you’ve enrolled in the pan during the enrollment period opening. Furthermore, set the ESPP or 401(k) contributions to the maximum the employer allows.

After you join its subscription, here’s how the service will work monthly:

• Lendtabel will deposit the payout to your registered account on the 1rst and 15th monthly
• This platform will automatically verify the contribution made to your retirement account. Sometimes, it’ll request you to upload your recent pay stub showing the monthly deductions.

The repayment is not a monthly payment monthly since you should pay the balance when you separate from the employers. Besides, it can be paid when you hit retirement age or cancel the service.

We know, as a customer you are eager for detailed information. It will help you make an informed decision. Thus, let’s take a look at the pros and cons list below!

First and foremost, Lendtable service is only available to employees in a company that offers 401(k), 403(b), TSP, and ESPP matches. Furthermore, the employee ought to have at least 25% vested in your employer match within a year of beginning.

Additionally, for ESPP or company shares match program, you should be eligible to trade your shares immediately upon purchase. So, if a holding or lock-up period prevents you from selling the shares, the company cant grant your applications.

Even though just founded three years ago but this platform obtained many reviews. Such as in Google Reviews gains a 4.7/5 average rating based on 2,034 reviews. Furthermore, it has a 4.7/5 average rating from 371 reviews on Trustpilot.

Now, let’s see some of the Lendtable reviews to see the customer opinion and determine its service quality:

Lendtable is extremely helpful. It helps me cash out my 401k when needed. Moreover, I do not even have to be concern about dealing with my 501 providers. It also helps me to max out what money I need to help to pay some bills.

Not only get positive reviews, but we also discover a small number of negative testimonials worth considering. Here’s one of them:

…Love the idea, but the website’s confusing. Communication with CS has been iffy, and I still struggle to get some of the requested documentation. Hopefully, after the initial setup is complete, things will go smoother, and I can give a better review.

Considering reviews on both sites, most customers love how helpful it is for employees. Not only that, it has a simple requirement to make cash out from your contributions. So you don’t have to be concerned about monthly payments like bank loans.

Despite those positive reviews, we also scour for negative reviews worth considering. Most of the complaint is about the website not being easy to navigate. Moreover, the balance you can get depends on your monthly salary.

Yes, this company is a legitimate cash advance company. Additionally, it has an accessible privacy policy that ensures your safety. What’s more, it is transparent about the cost, and the profit share rate will remain the same.

The company has thousands of genuine reviews that show it’s a real business. It’s also transparent about the company information, including the owner and company locations.

Although its website makes it difficult to understand its service, after learning more, Lendtable is worth it. It can be a great solution if you want to benefit from your 401k and ESPP contributions.

We also like how the profit share fee is one-time instead of a constant interest rate. It also does not need a credit check, making it simple. Overall, it’s a great solution to take advantage ahead if you need extra money to manage the month.

Yes, you can cancel the service. However, since every month before the cancellation, you get the money from Lendtable, you need to pay the balance.

It will send the amount that you need to pay. But you need to pay the balance with the profit fixed is 20%.

Have a question? If you have any questions regarding how the service works or need a hand, please contact Lendtable customer service via:

• Email Address: [email protected]
• Phone Number: (415) 323-3158
• Live Chat: Green button at the lower right
• Form: Contact Us form
• Social Media: @lendtable
• Address: 1475 Folsom St., San Francisco California